217
217
Jan 24, 2013
01/13
by
CNBC
tv
eye 217
favorite 0
quote 0
now we've got the right costs for the new environment we're in. and is this a cross to the board picture? >> definitely. banking ultimately is such for the underlying economy. so i think it doesn't take an economy to tell us that the next couple of years is going to be choppy and not the growth we've had for the last 20 years. banking has to go back to basics. fist, think about your revenue and cost base. here on the cost base, huge improvements. they've always been unmanaged because the revenue is growing so, you know, clearly matched to pay people twice as much as we have to. today, people working from i.t. to legal to front office staff to traders, everyone in my view is clearly overbased. given the number of job opportunities that are there, i think banks cap capitalization. they should tell management, cut your costs. and i am sure people would be very happy. >> we're going to see a lot more come on the compensation levels. how should they measure compensation? particularly in banking? >> certainly. so first of all, up to now in investment ba
now we've got the right costs for the new environment we're in. and is this a cross to the board picture? >> definitely. banking ultimately is such for the underlying economy. so i think it doesn't take an economy to tell us that the next couple of years is going to be choppy and not the growth we've had for the last 20 years. banking has to go back to basics. fist, think about your revenue and cost base. here on the cost base, huge improvements. they've always been unmanaged because the...
51
51
Jan 29, 2013
01/13
by
CNBC
tv
eye 51
favorite 0
quote 0
the pricing environment in the u.s. seems to be healthy and that's our expectations going through 2013. >> as you take a look at shares of ford, keep this in mind. it's a stock while down 5% this year, up 6.5% last year. a the lo are saying this the evaluation play for now. until definite that they will move higher you might be getting ahead of yourself. you have a guest later that might say buy now but that's the evaluation. >> over at stern senior analyst mike ward from that firm joins us now. he's got a buy on the stock. mike, what is the single or most one or two powerful arguments you've got for our audience about why they need to spend their hard earned money on ford stock. >> thanks for having me. first off in europe, mentioned the company did expect a loss of $2 billion in 2013. about half of that or close to a billion dollars, one-time unusual charges that won't occur again in 2014. ford is being very proactive in its restructuring in europe. that's good news. >> sorry, go ahead. >> i'm sorry, go ahead. the sec
the pricing environment in the u.s. seems to be healthy and that's our expectations going through 2013. >> as you take a look at shares of ford, keep this in mind. it's a stock while down 5% this year, up 6.5% last year. a the lo are saying this the evaluation play for now. until definite that they will move higher you might be getting ahead of yourself. you have a guest later that might say buy now but that's the evaluation. >> over at stern senior analyst mike ward from that firm...
130
130
Jan 25, 2013
01/13
by
CNBC
tv
eye 130
favorite 0
quote 0
environment is very good. >> blankfein says improving outlook for the u.s. and other economies bodes well for goldman sachs long-term prospects. >> the things we do, all the things we do, correlate with growth. we advise people on acquisitions when they have the confidence to acquire things. finance them when they do things. manage risky assets which people only put money in risky assets when they are confident. so i think the economy is growing and i think the cycle is long so i'm optimistic. >> he estimates that as the cycle improves, so should goldman's one of most profitable businesses. a business that's been lackluster recently. >> the conditions are quite right for very low level of interest rates. the fact that industries are consolidating. a lot of opportunities overseas. and i tell you, everybody in his own industry tracks a lot of stuff. we track m & a as a percentage of gdp. it is a much lower level than we should be at this part of the recovery and i'm kind of at a loss to explain why. >> blankfein did say buyers and sellers seem to disagree on t
environment is very good. >> blankfein says improving outlook for the u.s. and other economies bodes well for goldman sachs long-term prospects. >> the things we do, all the things we do, correlate with growth. we advise people on acquisitions when they have the confidence to acquire things. finance them when they do things. manage risky assets which people only put money in risky assets when they are confident. so i think the economy is growing and i think the cycle is long so i'm...
115
115
Jan 25, 2013
01/13
by
CNBC
tv
eye 115
favorite 0
quote 0
we need to protect their environment. we have a strict quarantine system to protect the integrity of the environment. forty years on, it's still a class-a nature reserve. it's our job to look after them. ...it's my job to look after it. ♪ >>> it is really very hard to tell at this point how long the investigation will take. what i can tell you is that we have all hands on deck. we are working as hard as we can to identify what the failure mode is here and what corrective actions need to be taken. >> all right. so investigators still don't know what cause ad battery fire on board this airplane in boston earlier this month and that spells more bad news for boeing. the company's flagship dreamliner fleet now grounded for the past nine days. no end in sight, frankly. here now is former american airlines chairman bob crandall and jonathan salem baskin. mr. bob crandall it's a pleasure to see you, sir. happy new year. i want to ask you what the national transportation board said late this afternoon, okay. they looked at this
we need to protect their environment. we have a strict quarantine system to protect the integrity of the environment. forty years on, it's still a class-a nature reserve. it's our job to look after them. ...it's my job to look after it. ♪ >>> it is really very hard to tell at this point how long the investigation will take. what i can tell you is that we have all hands on deck. we are working as hard as we can to identify what the failure mode is here and what corrective actions need...
239
239
Jan 25, 2013
01/13
by
CNBC
tv
eye 239
favorite 0
quote 0
of course, it's a challenging environment. but i think it's something that is quite possible to happen. >> i was looking at some numbers and nearly 1% gdp growth this year is the target for growth in mexico. that's four times the pace of brazil. double the united states. because of that, you're seeing this huge inflow in money and business activity. are those targets accurate? >> yeah. i think this year we should be in the range between 3 1/2 and 4% growth. and it is a good growth rate if you compare it with other countries in the world with some latin countries in the continent. but it's not enough. mexico is still an emerging country. we have a substantial amount of people still in poverty. and we need the to grow faster and at a steady te that's why productivity is so important. and we have fantastic samples of competitive in mexico. we need to make productivity something that is variable to the overall pop laying to the majority of mexico. and that's why it's important to do this crosswide reforms that can have a broad imp
of course, it's a challenging environment. but i think it's something that is quite possible to happen. >> i was looking at some numbers and nearly 1% gdp growth this year is the target for growth in mexico. that's four times the pace of brazil. double the united states. because of that, you're seeing this huge inflow in money and business activity. are those targets accurate? >> yeah. i think this year we should be in the range between 3 1/2 and 4% growth. and it is a good growth...
225
225
Jan 29, 2013
01/13
by
CNBC
tv
eye 225
favorite 0
quote 0
and become the cheapest place on earth and put millions of people to work including in a more secure environment. we are barely scratching the surface of natural gas use. there isn't enough natural gas to sell cars in this country. what a sad set of circumstances. stick with cramer.
and become the cheapest place on earth and put millions of people to work including in a more secure environment. we are barely scratching the surface of natural gas use. there isn't enough natural gas to sell cars in this country. what a sad set of circumstances. stick with cramer.
104
104
Jan 28, 2013
01/13
by
CNBC
tv
eye 104
favorite 0
quote 0
there will be questions about what, about the environment, leads them to these particular numbers. also question about strength in search and whether they'll continue to see that strength. and the relative weakness in display advertising versus what people have been expecting. seems like they were getting better pricing on display ads but a lot fewer of the ads appearing. i expect if that's due to a shift to smartphones where yahoo! doesn't have a lot of adds right now and if they expect to monetize that traffic soon. >> jon, thank you so much. keep us posted on the developments there. revenue came in at $520 million versus a consensus of about $554 million. where do you stand on yahoo! at this point, tim? >> i stand on based what they're going to do with their buy-back. this stock was up 18%. i think people are waiting on this and waiting to see how they can monetize the rest of the balance sheet. i don't see a whole lot of organic growth. i think melissa has done a great job trying to bring forth this value. i don't need to own this stock. i think these are the drivers, people ar
there will be questions about what, about the environment, leads them to these particular numbers. also question about strength in search and whether they'll continue to see that strength. and the relative weakness in display advertising versus what people have been expecting. seems like they were getting better pricing on display ads but a lot fewer of the ads appearing. i expect if that's due to a shift to smartphones where yahoo! doesn't have a lot of adds right now and if they expect to...
153
153
Jan 26, 2013
01/13
by
CNBC
tv
eye 153
favorite 0
quote 0
we need to protect their environment. we have a strict quarantine system to protect the integrity of the environment. forty years on, it's still a class-a nature reserve. it's our job to look after them. ...it's my job to look after it. ♪ >>> welcome back to this "kudlow report." we're all used to financial titans squaring off but it's usually in a board room, not a cable television. a long standing grudge between bill ackman and icahn turned into a slug fest. and bobby jindal said the republican party needs to grow up and start being the stupid party. >> the fbi reports they are investigating senator bob menendez on accusations he purchased prostitutes and attended sex parties in the dominican republic. he has rejected this party for months and much of this story frankly is still unconfirmed. joining to us explain the allegations and the newly surfaced evidence, executive editor at "the daily caller." what is the new evidence that has emerged? >> about 36 hours ago we received a cache of documents, about 58 pages of e-
we need to protect their environment. we have a strict quarantine system to protect the integrity of the environment. forty years on, it's still a class-a nature reserve. it's our job to look after them. ...it's my job to look after it. ♪ >>> welcome back to this "kudlow report." we're all used to financial titans squaring off but it's usually in a board room, not a cable television. a long standing grudge between bill ackman and icahn turned into a slug fest. and bobby...
208
208
Jan 28, 2013
01/13
by
CNBC
tv
eye 208
favorite 0
quote 0
unlike the previous speaker because i think the regular story environment for banks is going to make it tougher for them to get the kind of earnings growth we like to see over the next six years. >> harry, do you see a change in the composition of the dow 30 in the next five or six years? >> i've always thought that hewlett-packard may eventually be in there. i think apple should be in there. they're not finished. they have a lot of innovation to go. i think hewlett-packard is sort of an old line while apple is a new line in the dow. i'd like to see that replacement potentially. >> so what was the problem with boeing and caterpillar? why didn't you pick them? >> i picked in bottom of '09 and ford. i think caterpillar has a lot of competition. several aircraft manufacturers are going to challenge boeing. i'd like to wait and see what happens with that one. i think i'd just shy away from that for now. fantastic company. there again, huge competition from china and japan in manufacturing the large equipment they're so good at. so i think there will be others. regulation may hurt financi
unlike the previous speaker because i think the regular story environment for banks is going to make it tougher for them to get the kind of earnings growth we like to see over the next six years. >> harry, do you see a change in the composition of the dow 30 in the next five or six years? >> i've always thought that hewlett-packard may eventually be in there. i think apple should be in there. they're not finished. they have a lot of innovation to go. i think hewlett-packard is sort...
143
143
Jan 29, 2013
01/13
by
CNBC
tv
eye 143
favorite 0
quote 0
in this environment and it's harder to provide guaranteed returns, is that a declining revenue stream? >> the problem with life insurers is a lot of their products they sell are discretionary. as people have less income and maybe they can't pay their mortgages, firstly, the top line is going to go down. secondly, as you say, a lot of life insurance profit is dictated by the return. as returns are low, property is under pressure. >> they have sold a lot of structure products to higher end investors. are those in decline, as well? >> yeah. i think a lot of complex analogies. >> and we have sovereignty two coming up which they keep fighting against. do we know what the full impact is going to be? >> it's still in debate. so i think the impact will be an improvement in risk management across the industry. that's a big win in the industry for a whole. they have more on the guarantee they offer and a more wholistic regime should make the industry stronger. >> and in the meantime, we can figure out whether the uk is leaving the eu. >> and then the uk has to worry about selling their products
in this environment and it's harder to provide guaranteed returns, is that a declining revenue stream? >> the problem with life insurers is a lot of their products they sell are discretionary. as people have less income and maybe they can't pay their mortgages, firstly, the top line is going to go down. secondly, as you say, a lot of life insurance profit is dictated by the return. as returns are low, property is under pressure. >> they have sold a lot of structure products to...
174
174
Jan 25, 2013
01/13
by
CNBC
tv
eye 174
favorite 0
quote 0
completely contained environment. home was down big numbers. it will be the best part. >> carl icahn released a statement responding to the accusations that you have made towards him. he's also wanting to call in and respond to you directly. i will give you two choices. you can hang on the phone and we can bring mr. carl icahn in and you can have the discussion with me on live television, if you're up for that. >> the answer is, again, i think the focus here fundamentally i have nothing personal against carl icahn. unfortunately what happened is -- you know, if carl wants to come on, let's make it fun tv. let's put it to bed and move on. if you promise we can focus on whether herbalife is a pyramid scheme or not for the future of cnbc i'm happy to talk to carl on tv. >> if you would, hold on. we'll take a break, bring in carl and have the conversation right here live on cnbc. we're back in two minutes. again, carl icahn calling in to address bill ackman directly when we come back. this is $100,000. we asked total strangers to watch it for us. t
completely contained environment. home was down big numbers. it will be the best part. >> carl icahn released a statement responding to the accusations that you have made towards him. he's also wanting to call in and respond to you directly. i will give you two choices. you can hang on the phone and we can bring mr. carl icahn in and you can have the discussion with me on live television, if you're up for that. >> the answer is, again, i think the focus here fundamentally i have...
134
134
Jan 30, 2013
01/13
by
CNBC
tv
eye 134
favorite 0
quote 0
in this environment it's not going to happen. >> to bring you back, is there any sense at all that the full in borrowing cost for the spanish government is going to feed through into the wider economy? i spoke on friday to the economic affairs minister. he told me this is what's going to happen -- now that borrowing costs are down it will feed through to the real economy. do you think that's going to happen or not? >> i hope yes because really we need some new measures. and we need some help to keep on growing again, as i was saying before. really, the -- what's going to say prime minister to all the investors. we have problems in the banking system with banking as you tell before. we have problem with the bank, and we need to -- a solution, to solve. with the meeting this morning with the president of the euro group, mr. junker, not tell any news about how will be the new measure. we are waiting and waiting and hoping that the new measures could be really strong, could be really positive. almost -- almost we're wishful that we could see cuts for the entrepreneurs, from the small and m
in this environment it's not going to happen. >> to bring you back, is there any sense at all that the full in borrowing cost for the spanish government is going to feed through into the wider economy? i spoke on friday to the economic affairs minister. he told me this is what's going to happen -- now that borrowing costs are down it will feed through to the real economy. do you think that's going to happen or not? >> i hope yes because really we need some new measures. and we need...
320
320
Feb 1, 2013
02/13
by
CNBC
tv
eye 320
favorite 0
quote 0
. >> so it creates a competitive environment? >> the most and it's great for their reputation, their reel and it's wonderful when you can go and do business pictures and you have this repertoire of great iconic ads that you've done. >> you own many agencies now. which one do you like most? it's saying which child do you like better, but -- >> 72 and sunny was one of our two new agencies that we acquired a partnership interest. they're awarded agency of the year. they're the ones who did the samsung spots that were really iconic in terms of their impact. >> yeah. >> and it was phenomenal. so we're lucky. we have six extraordinary agencies out of the 60 that are -- >> chrispin, of course, was for many years the hottest. >> and a new firm called the anomaly. >> do these things go in cycles? >> probably. probably. but i think -- >> is that part of your model, though? >> it's the back entrepreneurial firms who understand how consumers consume input in an evolving and emerging technolei technologyal environment. but the one thing i wil
. >> so it creates a competitive environment? >> the most and it's great for their reputation, their reel and it's wonderful when you can go and do business pictures and you have this repertoire of great iconic ads that you've done. >> you own many agencies now. which one do you like most? it's saying which child do you like better, but -- >> 72 and sunny was one of our two new agencies that we acquired a partnership interest. they're awarded agency of the year. they're...
211
211
Jan 29, 2013
01/13
by
CNBC
tv
eye 211
favorite 0
quote 0
one is we still want an environment and policies that support medical innovation. two, we want to also make sure that we have policies that support the improvement of the quality of health care in this country. and third, we also want policies that support the competitiveness of u.s. businesses. if we're able to generate policies that engender that and foster that kind of general we think we can have a very conducive pharmaceutical industry and biotech industry in this country. >> i have a question for you. this is a layman's question. are you finding, what's the split of revenue for domestic versus international and are you growing faster domestically or internationally and in the international markets you face a lot of regulatory pressure that you don't that's different than what you see here? that's three questions in one. >> today our business is split about 50/50. half the business in the u.s., and half outside the u.s. from a regulatory standpoint we've seen a harmonization between the u.s. and europe. obviously in some of the more developed markets like chin
one is we still want an environment and policies that support medical innovation. two, we want to also make sure that we have policies that support the improvement of the quality of health care in this country. and third, we also want policies that support the competitiveness of u.s. businesses. if we're able to generate policies that engender that and foster that kind of general we think we can have a very conducive pharmaceutical industry and biotech industry in this country. >> i have...
139
139
Feb 1, 2013
02/13
by
CNBC
tv
eye 139
favorite 0
quote 0
the subprime leaching into the environment. that hasn't happened here anywhere. as you noted, companies are leaner, meaner, and as a result, can handle any kind of volatility much better. they've learned, unfortunately, through a very bad experience how to do that. number three, parts of the world are not participating. europe economically, china picking up now from a lower point, countries like india struggling. so there are other parts of the world that could do better and join in on the earnings growth. the last one, an an important one, is what are your comparative yields elsewhere. where are your alternatives in terms of investing. and the valuation today, if you look at what we call the normalized earnings gap, take 10-year average earnings, inverted pe, you look at the bond yield five years into the future based on futures contract, you're at a level now that would argue 97% of the market gains in the next six months. >> let me pick up on that yield argument. because the logical conclusion, as sure as day follows night, from what you're saying, this optimi
the subprime leaching into the environment. that hasn't happened here anywhere. as you noted, companies are leaner, meaner, and as a result, can handle any kind of volatility much better. they've learned, unfortunately, through a very bad experience how to do that. number three, parts of the world are not participating. europe economically, china picking up now from a lower point, countries like india struggling. so there are other parts of the world that could do better and join in on the...
127
127
Jan 28, 2013
01/13
by
CNBC
tv
eye 127
favorite 0
quote 0
retailers, we're operating within the irish domestic market exclusively, it's a very, very different environment with awkward rent reviews, public sector costs are highly uncompetitive right across costs such as wages. other local authority charges on retailers in particular and those with large industrial premises within the country and we also have a domestic mortgage crisis with the banks. >> now, ryanair shares are under pressure today. you can see they're trading down by better than 2%, in fact, taking the sector down, too. ez-jet is one of the worst performers on the stoxx 600 today. ryanair is roughly flat over the past seven days, so marginally higher from where we were a week ago on the back of those comments. >>> we are going to head out to tokyo as toyota reclaims the crown from gm as the world's biggest carmaker. we'll get the latest from egypt as president morsi declares a month-long state of emergency. dozens of people have been killed over anti-government protests. we'll take a view on equities, too. the dow, as we said, is on pace for its best january since 1989. and, again, for
retailers, we're operating within the irish domestic market exclusively, it's a very, very different environment with awkward rent reviews, public sector costs are highly uncompetitive right across costs such as wages. other local authority charges on retailers in particular and those with large industrial premises within the country and we also have a domestic mortgage crisis with the banks. >> now, ryanair shares are under pressure today. you can see they're trading down by better than...
144
144
Jan 29, 2013
01/13
by
CNBC
tv
eye 144
favorite 0
quote 0
as i said at the outsaid, the environment is only getting tougher. to a certaindegree, yes, it is. >> when would you see empirical data suggesting that the tide is turning, though? i mean, would share -- i mean, would the end of share loss when it comes to the digital ad market, is that in the near future? >> no. i mean, look, google, it's growing somewhere between 30% and 40%. facebook around the same level. it's going to take a while for facebook to -- for yahoo! excuse me, to go from negative 5 to a positive. we think sometime by the end of this year, they may be flat to maybe slightly up. you know, we're not holding our breath on them growing as fast, or even faster than the industry as management continues to believe that they will be able to do. but in the meantime, we'll be looking at engagement to see month-to-month engagement, particularly on the mobile side. and also try to figure out or try to see the rollout of new products. that will be a precursor to them doing well over time. >> amazon, that's a big report we're all looking forward to
as i said at the outsaid, the environment is only getting tougher. to a certaindegree, yes, it is. >> when would you see empirical data suggesting that the tide is turning, though? i mean, would share -- i mean, would the end of share loss when it comes to the digital ad market, is that in the near future? >> no. i mean, look, google, it's growing somewhere between 30% and 40%. facebook around the same level. it's going to take a while for facebook to -- for yahoo! excuse me, to go...